Singapore: Aramids Staple Market 2024

Aramids Staple Market Size in Singapore

The Singaporean aramids staple market soared to $X in 2021, rising by 406% against the previous year. In general, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Aramids Staple Production in Singapore

In value terms, aramids staple production rose to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the production volume increased by 18% against the previous year. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Aramids Staple Exports

Exports from Singapore

In 2021, aramids staple exports from Singapore contracted sharply to X kg, which is down by -88.4% on the year before. Over the period under review, exports continue to indicate a dramatic decline. The growth pace was the most rapid in 2015 when exports increased by 562% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, aramids staple exports reduced remarkably to $X in 2021. In general, exports faced a sharp curtailment. The most prominent rate of growth was recorded in 2017 with an increase of 231% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

South Korea (X kg) was the main destination for aramids staple exports from Singapore, accounting for a 86% share of total exports. Moreover, aramids staple exports to South Korea exceeded the volume sent to the second major destination, the United States (X kg), eightfold.

From 2012 to 2021, the average annual growth rate of volume to South Korea stood at -11.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+11.2% per year) and Indonesia (-41.5% per year).

In value terms, South Korea ($X), the United States ($X) and Indonesia ($X) appeared to be the largest markets for aramids staple exported from Singapore worldwide, with a combined 92% share of total exports.

In terms of the main countries of destination, the United States, with a CAGR of +14.3%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average aramids staple export price stood at $X per ton in 2021, declining by -3.2% against the previous year. In general, the export price showed a pronounced downturn. The growth pace was the most rapid in 2014 when the average export price increased by 985% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Brazil (+207.6%), while the prices for the other major destinations experienced more modest paces of growth.

Aramids Staple Imports

Imports into Singapore

In 2021, approx. X tons of aramids staple were imported into Singapore; jumping by 682% on 2020. In general, imports, however, continue to indicate a pronounced decline. The pace of growth was the most pronounced in 2019 with an increase of 2,428%. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, aramids staple imports skyrocketed to $X in 2021. Over the period under review, imports, however, continue to indicate a noticeable contraction. The pace of growth appeared the most rapid in 2019 when imports increased by 2,744% against the previous year. Over the period under review, imports reached the peak figure at $X in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

Imports by Country

France (X tons), China (X tons) and the Netherlands (X kg) were the main suppliers of aramids staple imports to Singapore, together accounting for 99% of total imports.

From 2012 to 2021, the biggest increases were recorded for France (with a CAGR of +63.3%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, China ($X) constituted the largest supplier of aramids staple to Singapore, comprising 65% of total imports. The second position in the ranking was held by France ($X), with a 16% share of total imports. It was followed by the United States, with a 13% share.

From 2012 to 2021, the average annual growth rate of value from China totaled +7.9%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+20.2% per year) and the United States (-16.0% per year).

Import Prices by Country

In 2021, the average aramids staple import price amounted to $X per ton, dropping by -4% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when the average import price increased by 13%. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was the United States ($X per ton), while the price for France ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+43.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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